Money transfers

Transfer money from your HSBC account whenever and wherever you need to, with transfers both within Bahrain and around the world. You can use HSBC Money Transfer to pay bills, send money to your children studying overseas, for investment, savings and even transfer money between your global accounts.

With up to three different types of transfers, simply choose the way that suits your current needs best.

Domestic money transfers

HSBC Money Transfer within Bahrain is a quick, easy and secure way to make payments. Whether you are looking to pay your utility, telephone or credit card bills, domestic money transfer is a safe, convenient, dependable and hassle-free way to make a payment.

Domestic money transfer benefits

Instant funds transfer within HSBC Bahrain accounts

Preferential pricing for Premier customers

Recurring payments to beneficiary accounts

Set up and schedule recurring transactions to beneficiary accounts for future payments.

Free SMS alerts

Stay informed with free SMS alerts on your mobile phone any time a transaction on your account takes place.

In order to transfer money through our automated phone banking system you need to create a 'saved transfer template'. Create the template through a phone banking agent or by visiting a branch or Customer Service Centre.

Domestic money transfers in branch

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To make a domestic money transfer from your account at HSBC, please visit your local branch with valid photo identification and completed remittance form.

International money transfers

Transfer money around the world

Whether you’re looking to transfer money for personal or business needs, for your family back home, for your children's education or for investment or savings purposes, HSBC International Money Transfer is a safe, convenient and hassle-free way to make a payment.

The advantages that make life easier. Enjoy convenience and peace of mind when you use HSBC Money Transfer for international transactions.

International money transfer benefits

Exchange rate certainty

Make your payment or transfer in the currency of the beneficiary account and benefit from our exchange rate. If you choose to send your payment in BHD, the exact converted amount will be subject to the exchange rate applicable by the recipient's bank.

Global connectivity

Send money to over 150 countries in up to 36 different currencies with personal assistance from our team, either online, at your local branch or over the phone.

Online fee discount

Transfer online and save up to BHD 2/- on the transaction fee when transferring money outside Bahrain.

Fast transfers

Whether you're sending money to HSBC India or HSBC Jersey, transfers are received the same day. If you are an Advance or Premier customer transferring to your HSBC account globally, your transfer can be instant.1

Account details required for international money transfers

Receiver’s banking information3: International Bank Account Number (IBAN) or account number, the bank or the intermediary bank SORT/SWIFT/BIC code, and the purpose of payment

2Payments will be routed overseas using this information. Incorrect or invalid information may lead to the payment being delayed or rejected by the overseas bank. In such cases, because of charges and differences in exchange rates, you may not receive the full amount back.

3Some countries may request additional information.

International money transfers online

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Online banking

Registered for online banking? It’s easy. All you need to do is:

Log on using your user ID and password

Select 'Transfer'

Select the account from which you want to transfer money

Fill beneficiary and transfer amount details

Confirm your transfer

You can also set up transfers to beneficiary accounts for future / recurring payments by saving this transfer instruction as a template for future use.

In order to transfer money through our automated phone banking system you need to create a 'saved transfer template'. Create the template through a phone banking agent or by visiting a branch or Customer Service Centre.

International money transfers in branch

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To make a Domestic Money Transfer from your account at HSBC, please visit your local branch with valid photo identification and completed remittance form.

Global money transfers

Experience one view of all your global HSBC accounts and make instant transfers between them.

Having HSBC bank accounts in more than one country shouldn't be difficult to manage. You can pay for your child's education, mortgage, utility bills or support your family back home, all in a couple of clicks.

If you're an HSBC Premier or Advance customer, HSBC offers you Global View and Global Transfers. You can transfer funds instantly and easily within your HSBC accounts globally through Internet banking.

Global money transfer benefits

Log-in once to view and manage all your accounts on one screen

Make instant transfers between your global accounts in different currencies4

Transfer funds of up to USD 200,000 instantly5

Open an international HSBC Premier or Advance account anywhere in the world

Why do Global Transfers in some currencies take longer than others?

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A small number of currencies can only be traded on-shore due to local regulatory restrictions, and although these currencies will still be available for you to transfer in, there may be a short delay in processing these transactions.

What is the fee applicable on HSBC Global Transfers?

Is there a limit on the amount to be transferred?

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The maximum daily limit is USD100k.

IBAN FAQs

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1. What is IBAN?

The international bank account number (IBAN) is the internationally accepted ISO (International Organization for Standardization) 13616-1 standard 1_/ numbering system to identify bank accounts. The IBAN provides an unique account number for each customer account, which allows sending and receiving banks to validate the accuracy of the beneficiary IBAN.

The IBAN was introduced to standardise the identification of bank accounts. It is essential to understand the following points regarding the IBAN:

The original bank account number, plus the additional characters, will be known as the IBAN.

Implementing the IBAN system will help improve the quality of information exchanged between banks, either within Bahrain or internationally. Its reliability and accuracy will help to reduce errors and delays in transaction processing.

2. IBAN usage in Bahrain

As directed by the Central Bank of Bahrain (CBB), with effect from 31 January 2012, the IBAN shall be used by banks and their customers for electronic payments which take place between banks. These include:

Domestic electronic payments to and from customer accounts of banks in the Kingdom of Bahrain.

Cross-border outgoing electronic payments from customer accounts of banks in the Kingdom of Bahrain to customer accounts of banks/financial institutions in 'Countries that have adopted IBAN' where the use of IBAN is mandatory .

Cross-border incoming electronic payments to customer accounts of banks in the Kingdom of Bahrain from customer accounts of banks/financial institutions in 'Countries that have adopted IBAN' as well as 'Countries that have not adopted IBAN'.

3. Advantages of the IBAN in electronic funds transfers

The structure of account numbering methods and number formats of each country and each bank are different and this leads to errors and delays in the completion of funds transfers. As business and financial transfers are increasing globally, the need has risen to develop IBAN for transfer of funds in domestic and foreign currencies.

The IBAN will facilitate automatic processing of fund transfers, to improve efficiency and accuracy of your payment transactions.

The IBAN also helps in assigning a unique account number format across participating countries.

The IBAN provides a uniform appearance to your account number, making it easier to identify the country and banking relationship of the account holder.

4. Usage of IBAN

Assume that Customer 2 will make a money transfer to Customer 1

Customer 1 gets the IBAN that corresponds to his account number(s) from his bank (Bank 1).

Customer 1 provides the IBAN of his account to Customer 2.

Customer 2 requests her or his bank (Bank 2) to transfer funds using the IBAN of Customer 1.

Bank 2 checks if the IBAN of Customer 1 is correct by validating the IBAN. Transfer continues only if the IBAN is valid.

The transfer is executed with validated (correct) IBAN, hence, the account of Customer 1 will be credited faster and easier when the transfer message is received by Bank 1.

5. IBAN structure

The IBAN is unique for each account and is made up of a combination of numbers and letters. Thus, every account will have a corresponding IBAN, and every IBAN designates one account.

The first four digits of the IBAN include two digits for country code and two check digits (to verify the validity of the IBAN). The remaining part of the IBAN includes the national account number, (referred to as Basic Bank Account Number - BBAN).

The Bahrain IBAN is a combination of 22 alphanumeric characters and is structured as follows:

BH

XX

BBME

00123123456001

Country code (two digits) in ISO format, to identify the account holding country. For Bahrain based accounts, it is BH

Check digit (two digits), enables validation of IBAN

Bank identifier code (four characters) to identify the bank where the IBAN is held. For HBME Bahrain, it is BBME

Account number (14 digits), to identify the credit account (two leading zeros will be added to your existing 12-digit HSBC account number)

The IBAN is unique for each account and is made up of a combination of numbers and letters. Thus, every account will have a corresponding IBAN, and every IBAN designates one account.

The first four digits of the IBAN include two digits for country code and two check digits (to verify the validity of the IBAN). The remaining part of the IBAN includes the national account number, (referred to as Basic Bank Account Number - BBAN).

The Bahrain IBAN is a combination of 22 alphanumeric characters and is structured as follows:

BH

Country code (two digits) in ISO format, to identify the account holding country. For Bahrain based accounts, it is BH

XX

Check digit (two digits), enables validation of IBAN

BBME

Bank identifier code (four characters) to identify the bank where the IBAN is held. For HBME Bahrain, it is BBME

00123123456001

Account number (14 digits), to identify the credit account (two leading zeros will be added to your existing 12-digit HSBC account number)

6. Presentation of IBAN

The IBAN shall be represented in the following two formats:

Electronic format

The IBAN shall be presented in the form of a continuous string of characters in electronic payment messages. Example: BHXXBBME00001006261001.

Print format

When the IBAN is printed or written on paper, it is written from left to right in groups of four characters separated with spaces. Paper representation of the IBAN: BHXX BBME 0000 1006 2610 01.

Where do I get my IBAN for my HSBC accounts?

We will communicate the IBAN(s) that corresponds to your accounts though your regular statements. If you wish to know your IBAN ahead of this, you may generate the IBAN through the IBAN Generator tool on our website (www.hsbc.com.bh).

Can you help me obtain the IBAN for my account number with another bank?

HSBC Bank Middle East Limited - Bahrain, is unable to provide the IBAN for accounts held with another bank and advises you to approach the respective bank for assistance.

What happens if I don't quote the IBAN of the beneficiary while initiating a payment?

With effect from 31 January 2012, funds transfer requests to banks within Bahrain/other IBAN-enabled countries without beneficiary IBAN will be rejected. This is applicable for all instructions that have been created with value date on or after 31 January 2011.

What happens if the IBAN is not quoted when receiving payments?

With effect from 31 January 2012, all inward payment instructions to HSBC Bahrain that do not contain beneficiary IBAN could be rejected.

Do my overseas remitters need to quote my IBAN?

Yes, you should request your customers to make payments to your IBAN account number. If you issue invoices, you should quote the IBAN on the invoices too.

Do we need to quote the IBAN for inter-account transfers (payments within HSBC)?

Where both the debit and credit accounts are with HSBC Bahrain, you can continue to provide the standard HSBC bank account number.

I use electronic delivery channels (ie Personal Internet Banking, Business Internet Banking, HSBCnet, HSBC Connect, SWIFTNet); do I need to use the IBAN when initiating electronic payments to Bahrain banks?

Yes, please ensure that you provide a valid IBAN at the time of initiating the payment instruction to ensure that your beneficiary gets the credit on time.

I have standing instructions loaded with HSBC for periodic payments; do I need to give revised instructions with the IBAN?

Yes, if you currently have standing instructions set up, you must advise HSBC of the IBAN for your non-HSBC beneficiaries by submitting an amendment request using Standing Instruction (Transfer of Funds) form. You may find a copy of the form on the internet or pick up the form from the nearest HSBC branch. We advise you to do this well in advance of 31 January 2012, to ensure our systems are updated in time to avoid payment delays or rejections.

What if I give an instruction over the counter at a branch, do I still need to provide the IBAN of the beneficiary?

Yes, please ensure that you provide the IBAN to avoid delays in processing the payments.

I receive monthly payments into my account from my creditors/employers; what instructions do I need to give them?

We are currently forwarding bulk salary payments (autoPay) instructions via diskette/paper; will this impact us?

Yes, you will need to provide the IBAN to your non-HSBC beneficiaries. This will have an impact on the process you follow today and we shall advise you of the changes soon.

HSBC encourages you to use our eChannel – HSBCnet, for an efficient and seamless payments service. To find out more, please contact your relationship manager.

Is there any service charge if we fail to provide the IBAN at the time of making payment requests? Will there be any charge should the remitter fail to incorporate my IBAN at the time of making payments?

For the time being, there will not be any additional charges, other than the normal transaction processing fee. Should this change, HSBC will communicate the tariff changes to you.

Disclaimer

HSBC Bank Middle East Limited (the "Bank") is required to act in accordance with the laws and regulations operating in various countries around the world relating to international sanctions. Under these sanctions requirements, the Bank is prohibited from engaging in certain transactions. The Bank would only process transactions that are in compliance with applicable sanctions.